Mediolanum International Funds Ltd Has $462,000 Stake in Cincinnati Financial Corporation (NASDAQ:CINF)

Key Points

• Mediolanum International Funds Ltd has significantly reduced its stake in Cincinnati Financial Corporation by 72.4% in the first quarter, now owning 3,175 shares valued at approximately $462,000.
• Cincinnati Financial's share price increased by 3.6% to $152.42, with a market capitalization of $23.82 billion and a PE ratio of 13.22.
• The company reported a quarterly earnings per share of $1.97, exceeding expectations, while also declaring a quarterly dividend with an annualized yield of 2.28%.

Mediolanum International Funds Ltd cut its stake in shares of Cincinnati Financial Corporation (NASDAQ:CINF - Free Report) by 72.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,175 shares of the insurance provider's stock after selling 8,326 shares during the period. Mediolanum International Funds Ltd's holdings in Cincinnati Financial were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CINF. Park National Corp OH boosted its holdings in Cincinnati Financial by 0.6% during the first quarter. Park National Corp OH now owns 12,686 shares of the insurance provider's stock worth $1,874,000 after buying an additional 72 shares during the last quarter. Spire Wealth Management raised its position in shares of Cincinnati Financial by 77.6% in the 1st quarter. Spire Wealth Management now owns 174 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 76 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Cincinnati Financial by 0.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,931 shares of the insurance provider's stock worth $2,871,000 after acquiring an additional 91 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in Cincinnati Financial by 4.1% during the first quarter. CWA Asset Management Group LLC now owns 2,385 shares of the insurance provider's stock valued at $352,000 after purchasing an additional 94 shares during the period. Finally, Brass Tax Wealth Management Inc. increased its stake in Cincinnati Financial by 5.2% in the first quarter. Brass Tax Wealth Management Inc. now owns 1,886 shares of the insurance provider's stock valued at $279,000 after purchasing an additional 94 shares in the last quarter. 65.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Cincinnati Financial from $150.00 to $167.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Roth Capital lifted their target price on Cincinnati Financial from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Wall Street Zen raised Cincinnati Financial from a "sell" rating to a "hold" rating in a research note on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Cincinnati Financial currently has an average rating of "Moderate Buy" and a consensus price target of $159.20.

Cincinnati Financial Stock Down 1.2%

Shares of CINF stock traded down $1.82 during trading hours on Friday, hitting $145.69. 253,662 shares of the company were exchanged, compared to its average volume of 702,690. Cincinnati Financial Corporation has a 52 week low of $123.01 and a 52 week high of $161.74. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $148.04 and a two-hundred day moving average of $142.89. The company has a market capitalization of $22.78 billion, a PE ratio of 12.65, a PEG ratio of 7.89 and a beta of 0.76.

Cincinnati Financial (NASDAQ:CINF - Get Free Report) last announced its earnings results on Monday, July 28th. The insurance provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.58. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.80 billion. Cincinnati Financial had a net margin of 15.59% and a return on equity of 7.14%. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. Analysts anticipate that Cincinnati Financial Corporation will post 5.36 earnings per share for the current fiscal year.

Cincinnati Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 23rd were issued a dividend of $0.87 per share. The ex-dividend date was Monday, June 23rd. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.4%. Cincinnati Financial's dividend payout ratio (DPR) is presently 30.18%.

About Cincinnati Financial

Cincinnati Financial Corporation, together with its subsidiaries, provides property casualty insurance products in the United States. It operates through five segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments. The Commercial Lines Insurance segment offers coverage for commercial casualty, commercial property, commercial auto, and workers' compensation.